Veritiv Corp. (VRTV) Lifted to Hold at Zacks Investment Research
Veritiv Corp. (NYSE:VRTV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Veritiv Corporation engages in offering North American business-to-business distribution solutions. It provides packaging, print and print management, publishing, supply chain, facility and logistics solutions that span the entire lifecycle of core business operations. The company’s customers vary across a number of industries, including manufacturing, healthcare, retail and more. Veritiv Corporation is headquartered in Atlanta, Georgia. “
Shares of Veritiv Corp. (NYSE:VRTV) opened at 52.95 on Wednesday. The stock has a market cap of $847.20 million, a P/E ratio of 23.67 and a beta of 1.50. The firm’s 50-day moving average price is $50.51 and its 200 day moving average price is $43.33. Veritiv Corp. has a one year low of $27.44 and a one year high of $54.80.
Veritiv Corp. (NYSE:VRTV) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.10. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Veritiv Corp. had a return on equity of 11.04% and a net margin of 0.42%. Equities research analysts expect that Veritiv Corp. will post $2.77 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its stake in Veritiv Corp. by 3.3% in the second quarter. BlackRock Advisors LLC now owns 3,872 shares of the company’s stock valued at $146,000 after buying an additional 122 shares during the period. Vanguard Group Inc. boosted its stake in Veritiv Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 372,242 shares of the company’s stock valued at $13,988,000 after buying an additional 13,837 shares during the period. Principal Financial Group Inc. boosted its stake in Veritiv Corp. by 1.8% in the second quarter. Principal Financial Group Inc. now owns 57,423 shares of the company’s stock valued at $2,158,000 after buying an additional 1,028 shares during the period. AJO LP acquired a new stake in Veritiv Corp. during the second quarter valued at about $433,000. Finally, Dimensional Fund Advisors LP boosted its stake in Veritiv Corp. by 21.1% in the second quarter. Dimensional Fund Advisors LP now owns 282,718 shares of the company’s stock valued at $10,624,000 after buying an additional 49,169 shares during the period. 97.48% of the stock is owned by institutional investors.
Veritiv Corp. Company Profile
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. The Company operates from more than 180 distribution centers primarily throughout the United States, Canada and Mexico, serving customers across a d range of industries.
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